CSBC Introduces New Measure to Up Operating Capacity

August 31, 2006

To elevate operational competitiveness, the state-run China Shipbuilding Corporation (CSBC) has recently worked out short-, medium- and long-term plans expected to help raise operational capacity. CSBC said the new plans would help the company raise the operating capacity by 20 percent, with the goal of achieving annual pretax earnings of $54.87m on sales of $1.21b by 2010. With the influx of shipbuilding orders, the CSBC racked up $17m in pretax earnings on cumulative sales of $359.75m in the first seven months of this year, while the company estimates it would be able to post $28.96m in pretax earnings on sales of $548.78m this year. The company said the short-term plan will help it raise overall production capacity by 20 percent and cut manpower costs by 10 percent in two years. In the medium-term plan, the company will set aside $15.24m to procure two 800-ton cranes to replace the two existing 350-ton ones to step up shipbuilding efficiency. As for the long-term plan, the CSBC will roll out energy-saving vessels, expand production bases, and look for suitable sites in Southeast Asia to set up more production. In addition, the company will also diversify by offering services in addition to being strictly a manufacturer. (Source: The Taiwan Economic News)

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